2015 Volume – $29M
The entire world of real estate is moving towards more density and mixed-use development. It began in Richmond back in the early 2000’s with many or Richmond’s urban neighborhoods becoming designated as ‘historic.’ It began the trend of conversion from the old warehouses to apartments and condos in Shockoe, Manchester, Jackson Ward and Scotts Addition.
“When you now see suburban neighborhoods such as West Broad Village mixing residential and commercial uses to provide more balanced and less car-dependent development, you know the trend is not just a urban/downtown trend. But when you have the differing uses so close to one another, the lines between residential and commercial real estate becomes blurred.
“My primary course of business is brokering either multi-family properties or adaptive re-use targets, and I need to be able to accurately value not only commercial uses, but residential rental rates AND residential FOR SALE rates in order to do right by my clients. Having access to one of Richmond’s best new project RESIDENTIAL teams, my clients know when I am making a recommendation about highest and best use, I really am able to offer pointed advice as to the best course of action. When I was operating from a wholly commercial firm, I did not have that luxury.
“Another great benefit of a mixed-use firm, is the access to ALL OF THE RELEVANT DATABASES. The syndication features available with MLS are staggering compared to most commercial data feeds. As one of the only brokerages with membership in both CVRMLS as well as CoStar/Loopnet, I have a distinct advantage over my competition as I am able to push my marketing so much further by leveraging all available databases. My clients love it as they see their properties exposed in places they never have seen before…”